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Mnuchin sees tariffs being imposed if no China trade deal

Monday, 14 October 2019 2:31 PM [ Last Update: Monday, 14 October 2019 2:37 PM ]

US Secretary of the Treasury Steven Mnuchin speaks in the briefing room of the White House in Washington, DC, on October 11, 2019. (Photo by AFP)

US Treasury Secretary Steven Mnuchin said on Monday that an additional round of tariffs on Chinese imports will likely be imposed if a trade deal with China has not been reached by then, but added that he expected the agreement to go through.

"I have every expectation - if there's not a deal, those tariffs would go in place - but I expect we'll have a deal," he said in an interview with CNBC, when asked about a round of tariffs scheduled for Dec. 15.

PressTV-US, China impose new tariffs as trade war escalates

The trade war between the US and China has escalated as the two sides once again started imposing more tariffs on each other’s products.

US President Donald Trump said on Friday that China and the United States had reached the first phase of a trade deal that covered agriculture, currency and some aspects of intellectual property protections, and would ease the reciprocal trade restrictions that the world's two largest economies have been imposing for 15 months.

But officials on both sides have said more work is needed to finalize the accord, and Trump acknowledged the agreement could still collapse.

PressTV-China takes US to WTO amid escalating trade war

China says it has filed a complaint against the latest US with the World Trade Organization (WTO) over the tariffs that Washington has been imposing on Chinese imports.

US Trade Representative Robert Emmet Lighthizer said on Friday that Trump had not made a decision about the December tariffs.

Mnuchin said more trade negotiations at various levels would take place over the coming weeks, including a phone call between himself, Lighthizer and Chinese Vice Premier Liu He, and talks between Trump and Chinese leader Xi Jinping.

PressTV-US-China trade war remain unresolved despite partial truce

The grievances that led the US and China to impose tariffs on hundreds of billions of dollars of each other’s goods remain largely unresolved.

Asked about a dispute between China and the US National Basketball Association stemming from a tweet by Houston Rockets manager Daryl Morey expressing support for pro-democracy protests in Hong Kong, Mnuchin said he hoped the two sides could come to a solution.

(Source:Reuters)

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